Trump plans – How does Cannabis Business fit in?

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President Biden’s administration has proposed the reclassification of marijuana from a Schedule I controlled substance to a Schedule III drug, which recognizes its medical benefits. This significant shift would not only have far-reaching implications for markets and consumers but would also enhance the potential for medical research into cannabis.

What has Trump said about cannabis?

Two months prior to the election, Trump released a statement that significantly aligned him with both the Biden administration and his opponent, Vice President Harris.

He affirmed that he supports legalizing the recreational use of marijuana.

“I believe it is time to end needless arrests and incarcerations of adults for small amounts of marijuana for personal use. We must also implement smart regulations, while providing access for adults, to safe, tested product.” he said in a post on Truth Social.

Trump expressed his support for Florida’s recreational cannabis ballot by indicating he would vote in favor of it even though the proposed amendment did not reach the required 60% threshold and he implied that Biden’s cannabis policy is likely to remain unchanged.

“As President, we will continue to focus on research to unlock the medical uses of marijuana to a Schedule 3 drug, and work with Congress to pass common sense laws, including safe banking for state authorized companies,” Trump said.

There’s much more good detail here at an article on the once great tax supported NPR site.

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